NEW YORK: US satellite radio provider Sirius XM has agreed to pay $210 million to settle a lawsuit over its lack of payments for playing pre-1972 songs, a royalties board said on Friday. SoundExchange, which collects royalties from digital broadcasts, said Sirius XM reached the settlement to end a lawsuit filed by five major record labels. While individual US states protect copyright, federal law only applies to recordings from after February 15, 1972, allowing Sirius XM, which broadcasts to a spread-out audience of subscribers via satellite, and internet radio provider Pandora to argue that they were exempt. NNPC board sacked ABUJA: Nigeria’s president on Friday sacked the entire board of the corruption-ridden state-run oil company, in what observers said was a prelude to an in-depth probe of the firm’s activities. An official statement from the head of civil service said Muhammadu Buhari had ‘dissolved the board of Nigerian National Petroleum Corporation (NNPC) with immediate effect’. Buhari, who took office on May 29 after a historic win in elections two months earlier, has vowed to tackle what he has called ‘the evil of corruption’. The oil sector is seen as the worst affected, with claims that billions of dollars have been misappropriated instead of being remitted into government coffers. Café Coffee Day IPO MUMBAI: The firm behind Café Coffee Day, India’s biggest homegrown coffee chain, has filed a draft prospectus with regulators for an initial public offering (IPO) to raise as much as INR 11.5 billion. Kotak Mahindra Bank, Morgan Stanley and Citigroup are among the underwriters for the IPO, the draft prospectus said. India’s biggest café operator opened its first shop in 1996 and has grown to more than 1,500 outlets as more young, urban consumers opt for cappuccino over tea and seek out spaces to socialise in overcrowded, traffic-congested cities. Insider trader jailed WASHINGTON: A former high-ranking executive of US computer chip giant Qualcomm was fined $500,000 and sentenced to 18 months in prison on Friday for insider trading, US officials said. Jing Wang, 52, the former executive vice president and president of global business operations at Qualcomm pleaded guilty last July to insider trading charges, including trades on a 2011 deal for Atheros Communications, the Justice Department said.